Customer Industry: Fraud Detection & Management. Many organizations are incorporating strategic Initiatives to improve security and reduce risks. They are responding to cyber-criminal attacks by investing in:
- Cloud-based cybersecurity (69%)
- Big Data analytics (59%)
- Cybersecurity insurance (59%)
- Risk-based security framework (91%)
- Formally collaborate with others (65%)
Background: Customer is a data science company that uses real-time, machine-based learning to help payment networks, banks and retailers prevent fraud in omnichannel commerce. Customer’s fraud science technology fuses machine learning with human intelligence to power payments systems globally for customers in North and South America, Europe, and Africa.
The Customer wanted to bring its expertise in regard to fraud protection technology to different parts of the world that have leap-frogged straight to mobile and advanced chip cards. The greatest challenge for a customer was to draw support and cooperation from their traditional marketing strategies to meet the market change.
They were in touch with a couple of partners who set up their meetings with the cold-calling channels but during that time period, the client realized that the quality of the leads was not so alluring. The leads did not have a context for the appointment and most of the meetings were set up with the designations not holding decision making powers. In most cases, it was just a casual catch up agenda. The customer wanted to meet the decision-makers from the Operations, IT, Finance, Compliance, Fraud & Risk, and Technology who would be interested in the solutions and willing to collaborate with the customer currently or in the near future.
Choosing the right mix of marketing strategy to make the most of the sales opportunities required a new vision on how to interact with customers, which made the customer associated with FunnL, leveraging the Personalized Email Marketing framework for its sales lead generation program.
Step 1. Market study and Lead Qualification Parameter
- FunnL conducted a detailed market study understanding the ecosystem for the customer in the mentioned markets.
- FunnL discussed the lead qualification specifications with the client to perceive the business requirements in detail.
- A document that condenses the understanding of the offering was prepared by the Project Head at FunnL.
- This document became the primary reference material for campaign design, funnel building, database creation, and campaign mail drafts.
Step 2. Campaign Design and Management
The aforementioned business understanding document was used to design campaigns, build the list, and design campaign drafts. FunnL designed and drafted three major exclusive campaigns for the customer.
- Campaign for top US and UK Banks
- Campaign for payment processors (Fortune 500 companies)
- Campaign targeting Retailers with more than 100 MN in revenue
FunnL executed the campaigns for a minimum period of 5 months to the following designations:
- Finance: CFO/SVP/VP/Heads/Sr. Dir/Dir/Controller
- Operations: COO/SVP/VP/Heads/Sr. Dir/Dir
- Technology & IT: CTO/CIO/SVP/VP/Heads/Sr. Dir/Dir
- Fraud, Risk & Compliance: SVP/VP/Heads/Sr. Dir/Dir
Step 3. Campaign Results: Optimization and Measurement
- The analytics report was shared with the customer based on the campaign responses.
- All the queries that resulted during the campaigning were shared with the customer.
- There were modifications made in each campaign as per the timely update from the customer based on the campaign response.
- The campaigns were scaled up and scaled down during the progress of the engagement.
- Campaign messages talked about the pain areas occurring in the industry and the solutions provided by the customers which created opportunities during the sales meetings
- The campaigns successfully resulted in contextual meetings where the customers not only discussed the problems and solutions but also the kind of engagement and the delivery model the prospects would be interested in.
- A healthy sales pipeline during the campaign cycle was developed for the customer sales team.
- FunnL Forecasted the number of leads for the coming months based on the analytical reports and sent it to the client.
- The client did not spend any extra money on branding as the Personalized Email marketing served the purpose of branding as well.